Parlux cut their losses to about $100,000 for the quarter. Our valuation moved up from $8.66 to $9.20. Looking like things are stabilizing. Changing our view to a cautious BUY here at $3.31.

Lion continues to decline. Revenues fell and losses grew. Our valuation plummeted to $.29 from $.49. Our only hope here is that maybe someone will pay $10 million or so for their online assets and we can recoup our losses. HOLD.

CTI, revenues up big time (due to Ryder acquisition) and they actually made a profit,albeit a small one of $40,000. Still better than losing. Our valuation moved up again to $1.38 from $1.29. Their VOIP business continued to lose money ($500,000 or so)but their irregular IP enforcement activities made almost $300,000. Still, altough CTI is still only trading at only 28% of our valuation. We still need to see better results in the VOIP group before we will change to a buy from a HOLD.